Examination on Risk Management Analysis for Construction Industry

Construction projects are intricate, uncertain & risky that causes delay. Construction projects are facing several risks it will affect the project on schedule & cost. Risk management is practiced in many industries. Many industries enable a risk management plan in their projects for better performance and profits. No project is free from risks. Projects from the construction industry are different in size which involves different types of risk. The project aims to identify the risk and provide the best solutions. Some of the risks determined in the project are defective design, financial issues, delay in permitting, availability of drawings, changes in codes & drawing changes in the scope of work, payment delay, accidents during construction. We aim to identify risk management practices in the construction industry & it helps to mitigate risk in construction industries